Rally in Miners Fizzles After Valuations Reach 2010 Peak: Chart

Global mining shares have tumbled after reaching their most expensive level relative to the broader market since 2010, signaling the recent rally may have gone too far. Commodity producers on the MSCI All-Country World Index just capped their biggest three-day slump since January as weak manufacturing reports stoked concern that demand for metals will slow. The broader gauge fell less than half as much.

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